What motivates women entrepreneurs in Spain

Women in Spain’s Entrepreneurial eco-system 2024 is a recent report published by Spain’s National Entrepreneurship Office. It challenges some old myths regarding female entrepreneurship.

Women entrepreneurs in Spain have a much broader range of motivations for starting a business than just work-life balance. They also choose from a wider selection of innovative ventures.

The report It is clear that women are becoming more entrepreneurial. According to the GEM Spain 2023-2024 ReportThe percentage of women who intend to start a business has increased from 8.8 percent in 2022 to 10.9 percent in 2023. However, the South Summit’s 2024 Entrepreneurship Map It is worth noting that women make up only 20% of startup founders. That figure has remained unchanged for the past decade. Women still launch ventures for reasons that go beyond financial gain. In 2023, 53 percent of women who have recently launched entrepreneurial ventures said that “earning money” was the main motivation (down from 71% in 2022), but other motives are gaining ground. These include “making a contribution” (38%) and “creating wealth”.

Women entrepreneurs are motivated by more than work-life balance

Separate study Women-Led Startups in Spain by the Women Startup Community The University of Malaga shows that there are other drivers as well: 91% of female founders mentioned market opportunities, 81% sought autonomy at work, and 45% aimed for professional development.

The work-life integration was not the main inspiration, which debunks the stereotype that mothers must balance work and motherhood. Work-life balance was not the primary inspiration.

The typical female entrepreneur in Spain is aged 36 to 45, with 25 per cent aged 46 to 55 and 29 per cent aged 25–35. The majority (85%) of female entrepreneurs have professional experience and 52% hold a postgraduate or master’s degree. Their educational backgrounds include engineering (34%), social sciences (32%), health sciences (20%), STEM (8%) and humanities (7%). This diversity dispels the myth that women founders are only found in tech-related fields. Financially, 26 per cent had no regular income before launching their companies, while 15 per cent already earned over €64,000 annually.

Andalucia takes the lead with women entrepreneurs

The majority of women-led startup companies are based in cities. Andalusia (36%), Madrid (22%), and Catalonia (14%), account for 72 %. Over 30% of these businesses are innovative, introducing new processes or products, which is nearly twice the rate of established companies. Sectors include ecommerce, biotechnology, sustainability, education and fintech. 23% of startups do not fall into any traditional category due to their disruptive nature. Women are also more resilient, showing higher rates of digitalisation (12% vs. 10% for men) as well as greater adaptability in times of crisis.

Some barriers still remain despite the progress made. Access to funding remains a major obstacle, as women-led businesses are less well funded than their male counterparts. Lack of female role-models, gender stereotypes and limited networks further complicate the lives of women entrepreneurs. Women’s versatility and determination are unquestionable, even though 51 percent of them balance motherhood with their business. In Spain’s evolving entrepreneurial ecosystem, women are proving that they can innovate and lead in diverse fields. They also break stereotypes.